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IMF cautions on timing of UK rate cut
The International Monetary Fund on Tuesday said the Bank of England should be mindful over when to start cutting interest rates or risk harming an economy recently out of recession. The warning came as the IMF ramped up its UK economic growth forecast but warned over “difficult” fiscal choices to stabilise debt, as beleaguered Prime Minister Rishi Sunak’s Conservatives trail the main opposition Labour party in opinion polls before a general election this year. The BoE this month signalled a summer rate cut, after holding borrowing costs at a 16-year peak of 5.25 percent to further dampen price rises. “As ... (full story)